On December 1st, the Lam Dong Provincial Inspectorate announced the conclusion of a specialized inspection of the Sentosa Villa project, developed by Sai Gon Investment LLC in Mui Ne Ward. This project was among the ten delayed and problematic initiatives flagged for inspection in August.
According to the inspection findings, the project has exceeded its adjusted 12-month deadline by over 11 years, as per the Investment Certificate issued on September 11, 2013. The Sentosa Villa project spans over 160,639 m² and has a registered investment capital of 260 billion VND.
As of the inspection date, the investor reported an investment of approximately 400 billion VND, alongside 200 capital contribution contracts with customers, generating nearly 230 billion VND in revenue.
The Lam Dong Provincial Inspectorate highlighted numerous prolonged violations, primarily in land management and construction.
A view of the Sentosa Villa project. Photo: DT
Notably, the former Binh Thuan Provincial People’s Committee issued decisions allowing Sai Gon Investment LLC to convert 88,687 m² of land from perennial crop cultivation to urban residential use.
However, this land-use conversion was deemed inconsistent with the 2016 and 2017 land-use plans of the former Phan Thiet City, which designated the area for commercial and service purposes, excluding residential land.
Regarding construction and investment procedures, previous inspections revealed that Sai Gon Investment LLC completed various infrastructure components, such as land leveling, internal roads, drainage systems, and greenery, without obtaining the necessary construction permits.
In terms of investment procedures, despite the project’s deadline expiration, the company failed to submit written notifications explaining the reasons and extension requests as required. Subsequent project adjustment applications in 2021 and 2022 were incomplete and unapproved by competent authorities.
Addressing these violations, during a meeting on September 1, 2025, Sai Gon Investment LLC agreed to reclassify 88,687 m² from urban residential to commercial and service land, requesting financial obligation refunds or offsets from state agencies.
The Provincial Inspectorate mandated that the developer promptly devise a satisfactory resolution for the 200 capital contribution contracts with customers, preventing complaints and legal disputes to maintain local stability.
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